Month: October 2017

Boston Beer is betting on the humble can to boost sales with the millennial crowd. The New England brewery, maker of Samuel Adams lager and Angry Orchard hard cider, has plans to roll out multiple new beers in the next year, including the SAM ’76 and the Sam Adams New England IPA. It has high

More than 90 funds focused on digital assets like bitcoin have launched this year, bringing the total number of such “crypto-funds” to 124, according to financial research firm Autonomous Next. Data shared exclusively with CNBC Friday showed that the largest share of the funds, 37 percent, used venture capitalist-type strategies and had about $1.1 billion

Proponents often draw comparisons to the 1990s, when technologies developed in that decade paved the way for Facebook, now a $515 billion market-cap company. There appears to be another similarity to the 1990s market before the tech bubble burst: speculation in micro-cap stocks that have added “blockchain” to their names, similar to the surge in

Investors worried about what will happen to rules around their 401(k) savings will have to wait a bit longer for clarity. President Donald Trump and Congress have tussled this week over what meaningful changes, if any, to these retirement plans should look like. Earlier this week, Trump maintained that rules for contributing to 401(k)s should

Apple fans may be miffed about the supply chain delays hitting the much-anticipated new iPhone X, but Apple investors don’t have much to worry about, according to a Wall Street analyst. “It’s certainly better than the alternative,” meaning lower demand, Andy Hargreaves, an analyst at KeyBanc, told CNBC’s Power Lunch on Friday. Pre-orders for Apple’s

The news roiled pharmaceutical stocks, while Amazon shares are at all-time highs. According to Tanquilut, Amazon’s business-to-business medical device web page was posted during the same period the company was granted wholesale distribution licenses in several states. The licensure was first reported by the St. Louis Post-Dispatch. An Amazon spokesperson previously told CNBC by email

Technology is the most important industry for stocks today, indicating that blowout earnings from giants such as Microsoft could be good for the market. Shares of Google parent Alphabet, Microsoft and Intel soared nearly 6 percent or more in Friday trading after reporting solid quarterly earnings that came in well above Wall Street’s expectations. The

Expedia CEO Mark Okerstrom told CNBC that the company’s stock decline on Friday is a “concern” but he is still “incredibly optimistic” about the future of the business. Shares of the travel company fell Friday, one day after it reported quarterly earnings that failed to meet Wall Street’s expectations. The stock was down about 18

Home ownership remains elusive for many Americans a decade after the collapse of the real estate market sent the U.S. economy into a tailspin. More than one-third of Americans ages 18 to 34 said they are likely to opt out of home ownership over the next decade, according to an annual survey conducted by the

The Halloween fears adapt to the events around us. After the 9/11 terrorist attacks, for example, Best uncovered unverified reports of kids getting cupcakes with jihadist messages. With marijuana candy, the underlying concerns may be genuine fears about pot-laced edibles. As Best put it, “If you have marijuana-laced gummy bears out there, why not worry

Older Americans are frequent targets of financial scams in general, and about 12 percent are victims, according to the BBB’s Scam Tracker Annual Risk Report. While the rate of susceptibility among retirees is lower than in younger age groups, the per-scam loss amount tends to be higher. For instance, among the 65-and-older crowd in 2016,

Jeff Bezos became the richest man in the world Friday morning, after adding nearly $7 billion to his wealth overnight. With Amazon’s share price surging Friday morning after its earnings report, Bezos’s wealth shot up to more than $90 billion, according to calculations by CNBC and data from the Bloomberg Billionaires Index. That put Bezos

Merck reported profit ahead of Street estimates on strong sales of its cancer drug Keytruda but total revenue fell in the quarter from disruptions due to the NotPetya cyber attack and loss of market share for many of its older drugs. Sales of Keytruda more than doubled to $1.05 billion in the third quarter but

While most technology shares jumped on Friday on blowout earnings from the likes of Amazon and Alphabet, one key member of the hot-tech-stock crew is not participating: electric car-maker Tesla. Shares of Tesla fell 1.6 percent in premarket trade after Evercore ISI, commenting on Tesla’s persistent production problems, downgraded the stock to in line from

Tech stocks surged on Friday as Wall Street cheered the blowout quarterly reports from three of the world’s biggest tech companies. The tech-heavy Nasdaq composite and Nasdaq 100 rose 1.4 percent and 2 percent, respectively, to hit record highs. The Nasdaq 100 is made up of the 100 largest companies in the composite index. The

Shares of Chevron fell on Friday as the oil major said its overall U.S. production fell in the third quarter despite output increases in the Gulf of Mexico and the Permian basin, the epicenter of the American drilling recovery. The higher production from the key oil-producing regions was offset by asset sales and the natural

The reason has to do with behavioral finance, he said. When saving for retirement with pretax money, it feels like someone else is paying for it. Take away that benefit, and saving becomes less appealing. “You’ll get a huge tax benefit when you retire, but it won’t feel the same way,” Edwards said. The fact

Exxon Mobil on Friday reported third-quarter earnings that beat on the top and bottom line, even as impacts on its refining business from Hurricane Harvey took a bite out of profits. Shares of Exxon were up nearly 1 percent at $84.25 in pre-market trading. The oil major earned 93 cents per share on $66.16 billion

J.C. Penney had a disappointing update to share Friday morning, sending the department store chain’s stock prices tumbling to an all-time low. Penney’s slashed its 2017 profit and comparable sales forecasts, explaining that the company has been discounting heavily ahead of the holidays to get rid of excess inventory. Penney’s shares fell more than 20

Qilai Shen | Bloomberg | Getty Images A worker walks past end frames for shipping containers at the Singamas Container Holdings factory in Qidong, China, on Thursday, June 22, 2017. Profits earned by China’s industrial firms in September surged 27.7 percent from a year earlier, the statistics bureau said on Friday, accelerating from a 24